GOVZ vs. IVV
GOVZ (iShares 25+ Year Treasury STRIPS Bond ETF) and IVV (iShares Core S&P 500 ETF) are both exchange-traded funds - GOVZ is a Government Bonds fund tracking the ICE BofA Long US Treasury Principal STRIPS Index, while IVV is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, GOVZ returned -11.53%/yr vs 13.88%/yr for IVV. At a 0.05 correlation, their price movements are largely independent. GOVZ charges 0.15%/yr vs 0.03%/yr for IVV.
Performance
GOVZ vs. IVV - Performance Comparison
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Returns By Period
In the year-to-date period, GOVZ achieves a -0.94% return, which is significantly lower than IVV's 10.85% return.
GOVZ
- 1D
- -0.50%
- 1M
- 1.73%
- YTD
- -0.94%
- 6M
- -4.35%
- 1Y
- 3.91%
- 3Y*
- -7.43%
- 5Y*
- -11.53%
- 10Y*
- —
IVV
- 1D
- -0.76%
- 1M
- 4.97%
- YTD
- 10.85%
- 6M
- 10.87%
- 1Y
- 28.00%
- 3Y*
- 22.43%
- 5Y*
- 13.88%
- 10Y*
- 15.54%
GOVZ vs. IVV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | -0.94% | -1.81% | -16.24% | 0.90% | -41.03% | -4.86% | -5.61% |
IVV iShares Core S&P 500 ETF | 10.85% | 17.85% | 24.93% | 26.31% | -18.16% | 28.76% | 16.16% |
Correlation
The correlation between GOVZ and IVV is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2020 | 0.05 |
The correlation between GOVZ and IVV shifts across timeframes, from 0.05 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GOVZ vs. IVV — Risk / Return Rank
GOVZ
IVV
GOVZ vs. IVV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) and iShares Core S&P 500 ETF (IVV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| GOVZ | IVV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.14 | ||
| Sortino ratioReturn per unit of downside risk | -2.78 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.43 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | 0.28 | 3.17 | -2.89 |
| Martin ratioReturn relative to average drawdown | 0.63 | 14.71 | -14.08 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GOVZ | IVV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.24 | 2.39 | -2.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.48 | 0.83 | -1.31 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.86 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.58 | 0.45 | -1.04 |
Drawdowns
GOVZ vs. IVV - Drawdown Comparison
The maximum GOVZ drawdown since its inception was -59.65%, which is greater than IVV's maximum drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for GOVZ and IVV.
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Drawdown Indicators
| GOVZ | IVV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.65% | -55.25% | -4.40% |
Max Drawdown (1Y)Largest decline over 1 year | -14.16% | -8.89% | -5.27% |
Max Drawdown (3Y)Largest decline over 3 years | -28.72% | -18.75% | -9.97% |
Max Drawdown (5Y)Largest decline over 5 years | -57.63% | -24.53% | -33.10% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.90% | — |
Current DrawdownCurrent decline from peak | -56.47% | -0.76% | -55.71% |
Average DrawdownAverage peak-to-trough decline | -39.91% | -10.78% | -29.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.21% | 1.91% | +4.30% |
Volatility
GOVZ vs. IVV - Volatility Comparison
iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) has a higher volatility of 4.27% compared to iShares Core S&P 500 ETF (IVV) at 2.87%. This indicates that GOVZ's price experiences larger fluctuations and is considered to be riskier than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GOVZ | IVV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.27% | 2.87% | +1.40% |
Volatility (6M)Calculated over the trailing 6-month period | 10.50% | 8.90% | +1.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.26% | 11.80% | +4.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.93% | 16.88% | +7.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.35% | 18.05% | +5.30% |
GOVZ vs. IVV - Expense Ratio Comparison
GOVZ has a 0.15% expense ratio, which is higher than IVV's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GOVZ vs. IVV - Dividend Comparison
GOVZ's dividend yield for the trailing twelve months is around 5.18%, more than IVV's 1.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | 5.18% | 5.00% | 4.68% | 3.84% | 3.69% | 1.76% | 0.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IVV iShares Core S&P 500 ETF | 1.06% | 1.17% | 1.30% | 1.44% | 1.66% | 1.20% | 1.57% | 1.85% | 2.21% | 1.75% | 2.01% | 2.27% |
Frequently Asked Questions
GOVZ and IVV have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOVZ has higher volatility (4.27%) compared to IVV (2.87%). In terms of maximum drawdown, GOVZ dropped -59.65% vs IVV's -55.25%.
On 5-year performance, IVV leads with 13.88% vs -11.53% for GOVZ. On fees, IVV is cheaper at 0.03% per year. On volatility, IVV has been the lower-risk option at 2.87%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IVV has performed better with a 13.88% return vs -11.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVV is cheaper with a 0.03% expense ratio, compared with 0.15% for GOVZ.
GOVZ has the higher dividend yield at 5.18%, compared with 1.06% for IVV.
GOVZ is categorized as Government Bonds, while IVV is S&P 500. GOVZ tracks ICE BofA Long US Treasury Principal STRIPS Index, while IVV tracks S&P 500 Index. Their fees differ too: 0.15% for GOVZ and 0.03% for IVV.
IVV currently has the higher Sharpe Ratio (2.39 vs 0.24), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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